Recovery Loan Scheme

Supporting UK Businesses recover from the impacts of COVID-19 with the Government backed Recovery Loan Scheme 

Term Loans & Overdrafts

Funds available from £25,001 to £10 million


Invoice & Asset Finance

Funds available from £1,000 to
£10 million

Apply for a Recovery Loan Scheme Today


The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business. The loan scheme current criteria will be available until the 31st of December 2021 and from the 1st of January 2022, the Recovery Loan Scheme will still be available however with a few changes to the criteria.

As a commercial finance broker, we can help you apply for the Recovery Loan Scheme; we have a panel of accredited Recovery Loan Scheme lenders

What type of Finance is available?

  • Term loans and overdrafts will be available between £25,001 and £10 million per business
  • Invoice finance and asset finance will be available between £1,000 and £10 million per business.

Finance terms are up to six years for term loans and asset finance facilities whilst overdrafts and invoice finance facilities have terms of up to three years. No personal guarantees will be taken on facilities up to £250,000 and a borrower’s principal private residence cannot be taken as security.

Is my Business Eligible for the Recovery Loan?

To be eligible for the loan, you will need:

  • To be a business trading in the UK
  • To show that your business is viable or would be viable were it not for the pandemic
  • Proof that your business has been impacted by the coronavirus pandemic (negatively or positively)
  • Proof that your business is not in collective insolvency proceedings

Businesses that have received support from the Coronavirus Business Interruption Loan Scheme, Coronavirus Large Business Interruption Loan Scheme or the Bounce Back Loan Scheme will still be eligible to access finance under this scheme if they meet all the criteria.

Who cannot apply for the recovery loan?

  • Banks, building societies, insurers and reinsurers (not insurance brokers)
  • Public sector bodies
  • State funded primary and secondary schools

What’s changing from the 1st of January 2022?

In the Autumn Budget 2021, the Government announced a few changes with the Recovery Loan Scheme. Firstly, the scheme that was due to end on the 31st of December has been extended and is now due to end on the 30th of June 2022.

From the 1st of January 2022, the following changes will come into place:

  • The scheme will only be open to SMEs with a turnover greater than £45million
  • The maximum amount of finance available will be £2million per business (maximum amount per Group limited to £6million)
  • The guarantee coverage that the government will provide to lenders will be reduced to 70% from 80%

What’s the difference between the Coronavirus Business Interruption Scheme and the Recovery Loan?

Below you will find the similarities and differences between the two government loan schemes. 

Feature Coronavirus Business Interruption Scheme The Recovery Loan
Loan Amount £50,001 – £5 million Up to £10 million 
Loan Term Up to 6 years Up to 6 years
Government pays the first 12 months interest on your behalf  Yes No
Government pays the upfront fee on your behalf  Yes No
Personal Guarantee Not permitted on loans up to £250,000 Not permitted on loans up to £250,000
Minimum Trading History  One – Two Years No Minimum 
Minimum Annual Turnover No Minimum No Minimum


    Can you save money on your CBILS repayments with the Recovery Loan Scheme? 

    If your business took out a Coronavirus Business Interruption Loan and you are or due to start repaying the interest on the Government backed Coronavirus Business Interruption Loan Scheme (CBILS), you may be able to refinance your CBILS loan onto the Recovery Loan Scheme to reduce costs.

    Start Your Recovery Loan Scheme Application Today

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